Tag Archives: outsourcing

The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication … Continue Reading

By Nicola Higgs, Fiona MacLean, Brett Carr, and Catherine Campbell Technology outsourcing by financial institutions (FIs) has increased in recent years as FIs look to the latest innovations to improve their day-to-day business processes and to reduce costs. FIs outsource key functions to a host of regulated and unregulated third-party service providers, and the sector is … Continue Reading

The EBA’s draft guidelines on outsourcing will impact cloud outsourcing and institutions’ deployment of FinTech. By Fiona Maclean, Charlotte Collins, and Terese Saplys On 4 September 2018, a wide audience of interested individuals gathered at Canary Wharf for a public hearing (Public Consultation) to listen to what the European Banking Authority (EBA) had to say in relation … Continue Reading

By Fiona Maclean, Stuart Davis and Charlotte Collins Cloud services come with the promise of many benefits for the financial services sector. Cloud computing offers large-scale and cost-effective solutions for data storage and efficient processing and is also the underlying technology for many FinTech platforms. As with a lot of new technology, however, financial institutions … Continue Reading

By Gail Crawford and Christian McDermott The recent cyberattack on Tesco Bank’s IT systems has prompted Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, to call on regulators to take action against vulnerable bank IT systems: “Making sure that banks improve their IT systems, and their resilience to cybercrime, is also a responsibility … Continue Reading

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